Sales Return Book

Sales return book is used to record all returns of goods by the customers to the business. The entries in the sales return book are usually on the basis of debit notes issued by the customers or credit notes issued to the customers.

From the following transactions of a trader Let us prepare the sales returns book and post it into ledger

Date		Amount
January 8,2005	Goods returned by Parker & Co.	60
" 20	Goods returned by Ideal Traders	72
" 31	Allowance granted to Ramesh & Co., for short delivery	110

Sales Return Book
Date	Particulars	D/N	L.F.	Amount $
January 8,2005	Parker & Co.			60
January 20	Ideal Traders.			72
January 31	Allowance granted to Ramesh & Co., for short delivery			110
				Total : 242

Now the individual entries are posted in their respective Ledgers as shown below:

Dr		Sales Return Account					Cr
Date	Particulars	J.F	Amount	Date	Particulars	J.F	Amount
January 31,2005	By Sundries as per S.R.B		242

Dr		Parker & Co's Account					Cr
Date	Particulars	J.F	Amount	Date	Particulars	J.F	Amount
				January 8,2005	By Sales returns		60

Dr		Ideal Traders's Account					Cr
Date	Particulars	J.F	Amount	Date	Particulars	J.F	Amount
				January 20,2005	By Sales returns		72

Dr		Ramesh & Co's Account					Cr
Date	Particulars	J.F	Amount	Date	Particulars	J.F	Amount
				January 31,2005	By Sales returns		110

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